WEBVTT THANKS, TAYLOR. WHETHER YOUR KIDS PLAY SPORTS OVER THE SUMMER, OR HAVE MORE COMING UP THIS FALL, THERE’S NO QUESTION THEY COST A PRETTY PENNY. JOINING US NOW TO TALK ABOUT TIPS IN BALANCING BETWEEN YOUR KIDS NOW AND YOUR RETIREMENT LATER, FINANCIAL PROFESSIONAL FRED CREUTZE GOOD TO HAVE YOU BACK. FRED: NICE TALKING TO YOU TODAY. OBVIOUSLY, IT ALL STARTS WITH REC SPORTS, TRAVEL SPORTS AND CLUBS SPORTS. PARENTS SPEND UP TO 25% OF THEIR INCOME SUPPORTING THESE PROGRAMS. THEO: THAT IS A LOT. HUNDREDS OF DOLLARS. JEN SAID $200 FOR ONE CHILD, AND YOU MIGHT HAVE MULTIPLE CHILDREN. FRED: YOU CAN SEE WHERE THEY REALLY GO. IF YOU ARE WITH A TRAVEL TEAM, YOU HAVE HOTEL EXPENSES, FOOD EXPENSES. ONE THING WE ALWAYS START AND END WITH IS THE BUDGET. YOU HAVE TO KNOW WHAT MONEY IS COMING IN, WHAT IS GOING OUT, AND WHAT WE REALLY HAVE TO SPEND ON. BECAUSE YOU MIGHT HAVE TO TELL YOUR CHILDREN, PICK ONLY ONE SPORT OR MAYBE THE CLUB LEVEL TEAM, MAYBE YOU ARE NOT READY FOR IT, BECAUSE THE EXPENSE IS THERE. IT IS LIKE KEEPING UP WITH THE JONESES. JUST BECAUSE FRIENDS ARE PLAYING PTHE CLUB SPORTS, CAN WE AFFORD IT? THEO: HE’S A PROGRAMS WILL OFFSET THINGS -- YOU SAY THAT SOME PROGRAMS WILL OFFSET THINGS? FRED: I WAS COACHING FOR SIX YEARS AND THERE ARE TEAMS WHERE IF SOMEBODY DOES HAVE FINANCIAL DIFFICULTIES, THEY HAVE FUNDRAISERS. YOU CAN JOIN THE TEAM. THEY MIGHT BE ABLE TO WORK WITH YOU. IF YOUR CHILD IS TALENTED, THEY WILL FIND THEIR WAY, SO WE’RE NOT TELLING CHILDREN NOT TO GO OUT AND FIND THEIR PASSION. THEO: TALKING ABOUT RETIREMENT, BECAUSE WE NEED TO PUT AWAY MONEY FOR DOWN THE LINE. THE KIDS ARE DOING SPORTS, SO HAD WE WORK IT IN? FRED: YOU STILL HAVE TO MATCH THE 401K, AT LEAST TAKE THE FREE MATCH, BUT A LOT OF PARENTS SAY TO US, AND THEY MAY BE HAVING YOUNG CHILDREN AND WE SHOULD BE BUILDING OUR ASSETS WITH OUR FUTURE. AND TEMPERS-20% OF AMERICANS SAY AND DO NOT HAVE THE EXTRA MONEY, YET THEY ARE SPENDING MAYBE ON THEIR CHILDREN’S SPORTING PROGRAMS AND THEY REALLY HAVE TO STILL FOCUS ON THEMSELVES, BECAUSE WHEN WE GET TO RETIREMENT I DO NOT THINK OUR KIDS WILL BE HELPING US THROUGH RETIREMENT. THEO: YOU HAVE TO PRIORITIZE. ANY OTHER TIPS? FRED: FIND THE WINNING COACH. A I POLICE SAY, ASK YOUR MOM AND DAD ABOUT A FINANCIAL ADVISOR. CLIENTS SAY, WOULD YOU MIND MEETING WITH MY KIDS? I NEVER MIND THAT. IT IS NICE AND HEARING IT FROM ME, INSTEAD OF FROM MOM AND DAD, ON WHAT TO HAVE -- ON WHAT TO DO. BUT WE WANT KIDS TO H